March 21, 2020

Your CFA Daily Update on COVID-19

Ontario suspending limitation periods and procedural time periods

We have just been advised that the provincial government through the Lieutenant Governor in Council made an order under s. 7.1 of the Emergency Management and Civil Protection Act suspending limitation periods and procedural time periods. The suspension is retroactive to March 16, 2020.  

The Order in Council can be viewed here:

https://www.oba.org/getmedia/31b388c7-2b5b-4193-b338-52d573c0c2aa/EMCPA-Order-eng-fr

Alberta Corporate Registry annual returns suspended

In keeping with public gathering restrictions, deadlines are suspended for businesses, corporations and non-profits that require holding annual general meetings in order to file their annual returns with Alberta Corporate Registry.

Source - https://www.alberta.ca/release.cfm?xID=69888C6BD725E-F1CF-9900-06F94046486269DF

BUSINESS RESOURCES

– BDO – Cash Flow strategies and Government Incentives in the time of COVID-19

– BDO – COVID-19: Financial reporting and audit implications

– CBC News – Got questions about social distancing? Here's what you need to know

Canada’s industrial policy will be temporarily refocused

Yesterday, Navdeep Bains, federal Minister of Innovation, Science and Industry announced that Canada’s industrial policy will be temporarily refocused to prioritize research and development, commercialization, and manufacturing (existing or potential) for medical supplies and solutions in the fight against COVID-19. This means that:

• The Strategic Innovation Fund will deliver direct support to larger companies as well as research institutions;
• Canada’s National Research Centre will expedite R&D with small and medium-sized enterprises;
• Innovation Superclusters will tap into a national network of 1,800 members; and
• Innovative Solutions Canada will help Canadian companies commercialize faster.

Funds will be deployed on an accelerated basis with wider flexibility to be able to tackle COVID-19 related problems through shortened applications and faster approvals, while maintaining standards for the health and safety of Canadians. We are putting the full weight of the federal government behind this plan.

If your businesses can help, I encourage you to visit this website: https://www.canada.ca/en/services/business/maintaingrowimprovebusiness/manufacturers-needed.html. For all other information, please visit Canada.ca/coronavirus.

CFA UPCOMING WEBINAR

Impact of COVID-19 on Employment Law

March 24, 2020 | 2 p.m. ET

Your Speakers:

DESCRIPTION:
This webinar will provide you with an overview of the impact of the rapidly-changing COVID-19 situation on employment law. Topics covered in this webinar include layoffs, sick leave, quarantine leave and terminations. It will also provide you with the opportunity to ask questions to legal experts.

Alleviating the crunch – how new government programs can help

March 26, 2020 | 2 p.m. ET

Your Speaker:

DESCRIPTION:
This webinar will provide you with an overview of the impact of the rapidly-changing COVID-19 situation on employment law. Topics covered in this webinar include layoffs, sick leave, quarantine leave and terminations. It will also provide you with the opportunity to ask questions to legal experts.

COVID-19's impact on the world is creating waves across all sectors and industries.

Every member of the CFA community is dealing with an issue that is affecting the world, our industries, our communities, our businesses, and our people.

We would like to hear from you if you have any topics, issues or questions to navigate turbulent times in order to support you further: